Stitch Fix names former Macy's exec Matt Baer as CEO
14/06/2023 14:51
June 14 (Reuters) - Stitch Fix SFIX.O on Wednesday
named former Macy's executive Matt Baer as the online
personalized styling service firm's CEO, effective June 26.
Baer will take over from Stitch Fix's founder Katrina Lake,
who had assumed the top role on an interim basis in January
after Elizabeth Spaulding had stepped down as chief executive.
Lake would continue in her role as the executive chairperson
of the board, the company said.
Baer had worked with department store Macy's M.N as its
chief customer and digital officer and has also served as the
vice president of e-commerce at Walmart.com WMT.N .
The CEO announcement comes a week after Stitch Fix said it
would explore exiting the UK market in its fiscal year 2024,
blaming a weakening macro environment and increasing costs.
Stitch Fix shares were trading down more than 3% in the
morning on Nasdaq.
(Reporting by Granth Vanaik in Bengaluru; Editing by Shailesh
Kuber)
((Granth.Vanaik@thomsonreuters.com; Twitter: https://twitter.com/Vanaik_Granth;))